The rise of the unicorn: Shedding light on the creation of technological enterprises with exponential valuations

Abstract

The ambition to create start-ups with exponential valuations is the goal of many entrepreneurs. How may one create the so-called unicorns (start-ups with a valuation in excess of one billion US dollars)? Our study involved interviews and a focus group and a theoretical model was created. Business plans are surprisingly seen to be less important than is normally perceived, as is a higher education degree. The research also points to variables such as one’s DNA, experience, implementation capacity, intrinsic motivation, vision and timing, and the ability to seek feedback and learn from mistakes and not just from success.